SingPost *Official* (SGX: S08)

[Shion]

Singpost books 38.5% rise in 2Q earnings to $53.4 mil

Singpost books 38.5% rise in 2Q earnings to $53.4 mil

http://www.theedgemarkets.com/sg/article/singpost-books-385-rise-2q-earnings-534-mil

SINGAPORE (Nov 2): Singapore Post posted a 38.5% rise in 2Q attributable earnings to $53.4 million, or 1.5 cents per share, from $38.6 million, or 1.25 cents per share, a year ago.

Revenue for the three months to Sept rose 19.4% to $263.2 million from $220.3 million with continued growth in Logistics and Retail & eCommerce and the inclusion of new subsidiaries.

While Mail revenue dropped 5.6% to $116.5 million, revenue from Logistics and Retail & eCommerce rose 43.3% to $156.1 million and 7.1% to $23.9 million a year ago.

Miscellaneous income amounted to $29.5 million, compared to $2.6 million in the comparative periods. The increase was largely due to one-off gains from the disposals of Novation Solutions and DataPost.

As at Sept 30, Singpost was in a net cash position of $87.8 million. The cash will be utilised for capital expenditure, working capital and other funding needs.

Dr Wolfgang Baier, Singpost’s Group Chief Executive Officer, says: “We emerge with a more stable and stronger foundation to our business since the start of our accelerated transformation. It is now showing in the numbers... eCommerce related revenue is now 29% of group revenue. While overseas revenue grew to 39.5%.”

Singpost has declared an interim dividend of 1.5 cents per share to be paid on Nov 27.

The stock closed 0.3% lower at $1.89 on Monday.

 

[Perisher]

This is awesome.

 

[Shion]

This is awesome.

But I guess the market overall is simply too red...

 

[SpinFire]

SingPost 3.0 looks promising, it aims to be an MNC by 2020.

 

[bibu00]

http://www.channelnewsasia.com/news/business/singpost-q2-underlying/2233470.html

SINGAPORE: Singapore Post (SingPost) reported on Monday (Nov 2) a 4.8 per cent drop in underlying net profit for its fiscal second quarter, as expenses associated with its investments in e-commerce infrastructure and capabilities offset revenue growth.

SingPost earned S$37.54 million in the three months ended September, down from S$39.43 million in the same period a year ago.

The Singapore-based mail, logistics and e-commerce solutions provider's revenue for the quarter, however, rose 19.4 per cent to S$263.17 million.

SingPost has been investing heavily in e-commerce and logistics facilities to take advantage of the boom in online shopping and to reduce its reliance on traditional mail delivery. The firm is now a regional player with operations in 15 countries.

It also said on Monday that a deal involving an additional investment by Chinese e-commerce giant Alibaba might not be completed till February next year. The Singapore company had on Jul 8 said that Alibaba will subscribe for an additional 5 per cent stake in SingPost for around S$187.1 million, raising its stake to 14.51 per cent.

SingPost, however, said plans to work more closely with the Chinese giant remain on track.

- CNA/xk

 

[athulican]

SingPost kept at ‘buy’ with $2.19 fair value by OCBC (Source: click here)
By PC Lee / theedgemarkets.com | November 3, 2015 : 10:42 AM MYT

SINGAPORE (Nov 3): OCBC is keeping a “buy” call on Singapore Post as the postal services provider continues to deliver growth amid its transformation into a logistics and e-commerce player.

SingPost reported a 19.4% y-o-y rise in revenue to $263.2 million and a 38.5% increase in net profit to $53.4 million in 2QFY16, such that 1HFY16 revenue and net profit accounted for 50% and 54% of OCBC’s full-year estimates, respectively.

In a Tuesday report, lead analyst Carmen Lee says Logistics was the star performer with a 43.3% y-o-y rise in revenue to $156.1 million in 2QFY16 due to growing contributions from e-commerce logistics activities and the inclusion of new subsidiaries. In the Retail and eCommerce segment, revenue increased also 7.1% y-o-y to $23.9 million.

In addition, as SingPost continues to invest in its transformation initiatives, overseas revenue now accounts for 39.5% in 1HFY16 vs 30.0% in 1HFY15.

Finally, in line with its usual practice, the group has declared an interim quarterly dividend of 1.5 cents, higher than 1.25 cents in the same period last year.

As at 10.41am, SingPost is up 0.5% to $1.90. In comparison, the benchmark STI is up 1.1%.

 

[a1v1n_]

SingPost changes organisational structure after acquisition of TradeGlobal

POSTED: 16 Nov 2015 12:56   UPDATED: 16 Nov 2015 20:07

SINGAPORE: SingPost has changed their organisation structure following the acquisition of a US e-commerce provider, it announced on Monday (Nov 16).

In a press release issued on Monday, SingPost said that it has made several investments that will put it "on the global map of the eCommerce logistics industry". It completed its acquisition of US e-commerce provider TradeGlobal on Nov 14.

SingPost said that its "updated organisation structure" is based on "four pillars": eCommerce, Postal, Logistics and Operations, and Corporate Services.

These changes will take effect from Dec 1.

Mr Marcelo Wesseler, CEO of SingPost eCommerce, will spearhead the development and growth of the Group's eCommerce business. He will relocate to the US to provide leadership for the eCommerce business in the market.

Mr Woo Keng Leong is appointed CEO (Postal Services) and will focus on the quality of service, and the sustainability of the mail business. He will also be responsible for international postal relationships.

Ms Goh Hui Ling is appointed Deputy CEO (International Mail), and as the key relationship manager with Alibaba, she will continue to oversee business relations with the world’s largest eCommerce operator.

Dr Sascha Hower will be Group Chief Operating Officer of SingPost and CEO of Quantium Solutions. He oversees the integration of logistics acquisitions across the region, including CouriersPlease in Australia.

Group CFO Mr Mervyn Lim is appointed Deputy Group CEO (Corporate Services), in addition to his Group CFO duties.

"Despite the success we have had in developing an eCommerce business, we must now focus on integrating our global acquisitions and investments in postal operations," said SingPost Chairman Mr Lim Ho Kee.

"As a national service provider with public postal service obligations, SingPost will continue to focus on the quality of service in Singapore as well as the sustainability of the mail business."

- CNA/sg

http://www.channelnewsasia.com/mobile/business/singpost-changes/2265136.html

Sent from ME using GAGT

 

[endlssorrow]

So many good news but after that xd still LSai

 

[duhzmehz]

SingPost restructure already also like that. down 2.2% at $1.81.......................

 

[a1v1n_]

http://www.channelnewsasia.com/mobile/singapore/singpost-ceo-wolfgang/2335916.html

Sent from ME using GAGT

 

[focus1974]

SingPost CEO Wolfgang Baier resigns
Dr Baier, who was appointed Group CEO in October 2011, is leaving to pursue new endeavours he says.

My bet is he is going to AliBaba to help in the logistic component !

 

[Beh-Hawk]

Looks posiitve, my side still target at 2.1.

 

[SpinFire]

My bet is he is going to AliBaba to help in the logistic component !

If that's true, Jack Ma probably offered him lots of $$

 

[starfish.starfish]

bye bye singpost, it has been a good run!

 

[SpinFire]

Anyone has subscription to Biz Times? It has an article stating speculations are that he's poached by another global firm. His previous experience at McKinsey as a consultant in e-commerce and logistics definitely gave him lots of knowledge and contacts in this area. A loss for SingPost.

Anyone can SIC this article?
http://www.businesstimes.com.sg/stocks/wolfgang-baier-abruptly-quits-singpost

 

[athulican]

 

[zzxiaoboizz]

Approaching 52 week low ...

 

[wintersonata1234]

Anyone has subscription to Biz Times? It has an article stating speculations are that he's poached by another global firm. His previous experience at McKinsey as a consultant in e-commerce and logistics definitely gave him lots of knowledge and contacts in this area. A loss for SingPost.

Anyone can SIC this article?
http://www.businesstimes.com.sg/stocks/wolfgang-baier-abruptly-quits-singpost

Dec 11, 20155:50 AM

Singapore

OVERNIGHT delivery: shock resignation from local corporate darling. Singapore Post's (SingPost) head honcho Wolfgang Baier said on Thursday evening that he was quitting the mainboard-listed company, catching investors by surprise and leaving the group scrambling to name a successor.

His abrupt move has sparked speculation that Dr Baier, known for transforming SingPost from a staid mailman into an e-commerce logistics player, may have been poached by another global firm in a similar space.

One question now is how quickly SingPost can find someone to take the reins, given that there is no immediately evident succession plan in place and the group needed roughly one and a half years to appoint a new chief the previous time round.

Dr Baier, 41, said in a statement that he was leaving to "pursue new endeavours" and would "ensure a smooth handover before I leave". He declined to elaborate on that in an e-mail reply to The Business Times, saying: "It's been a good five years . . . I am confident that SingPost is well positioned to ride on the huge e-commerce logistics opportunities ahead."

SingPost did not reveal whether it had shortlisted any successors, but said in a press release after market close on Thursday that the board was looking for a group CEO "both internally and externally". It said that Mervyn Lim, deputy group chief executive for corporate services, will cover the work of the group CEO and Dr Baier would be around to "support a handover" until latest June 30, 2016.

That Dr Baier will be around for six more months suggests that his departure may be due more to pull factors rather than push, market observers noted, adding that his reinvention of SingPost may have attracted the attention of some even bigger fish.

Dr Baier's departure announcement comes about four years after he took the helm on Oct 5, 2011. He had joined SingPost as CEO (International) in charge of the group's international wing in February 2011. Before that, he was a partner at consultancy McKinsey. He was named SingPost's group CEO after a long hunt that lasted about 18 months, after his predecessor Wilson Tan resigned in April 2010. Mr Tan was, at that time, the third SingPost CEO to resign within a span of five years.

Under Dr Baier, SingPost has made a series of tie-ups and acquisitions over the past few years. These include buying into self-storage companies, inking a partnership with Changi ground handling specialist SATS, buying Australia-based parcel delivery company Couriers Please for A$95 million (S$97.1 million) and snapping up US-based e-commerce provider TradeGlobal for US$168.6 million.

Notably, it has also caught the eye of global giants such as Chinese firm Alibaba, led by billionaire Jack Ma, which shelled out S$312.5 million for a 10.35 per cent stake in SingPost in 2014 at S$1.42 per share. SingPost also emerged in May 2015 as the first logistics partner of Alibaba.com's Alibaba Merchant Delivery Scheme.

Alibaba later said in July 2015 that it wanted to pump in another US$138.6 million to boost its SingPost stake to 14.51 per cent. But the deal has yet to go through and the long-stop date has been extended from Nov 30, 2015 to Feb 29, 2016.

Dr Baier looks to be leaving the group just as it enters a post-M&A integration stage. OCBC Investment Research noted in a Nov 3 report that the group is now more dependent on overseas revenue and e-commerce revenue, with logistics being its star performer.

CIMB Research said in a Nov 3 note: "So far, acquisitions have contributed to significant revenue growth, but earnings have yet to flow through given continued investments."

The group said in Singapore Exchange filings on Thursday that it would appoint its deputy chairman Goh Yeow Tin, 64, as executive director for 12 months with effect from Jan 1, 2016, to oversee post-merger integration activities and its Singapore operations. Mr Goh will cease to be chairman and member of the board's compensation committee and will be succeeded in that role by Tan Yam Pin.

Group chairman Lim Ho Kee will also step up his involvement to "provide management with more time and guidance", the group said.

How Dr Baier's resignation will affect the stock price remains to be seen. "At this level, obviously people will be concerned. SingPost has done very well so this could cause a bit of nervousness in the market," a seasoned market insider said. "But it's not going to collapse."

SingPost shares closed two Singapore cents lower at S$1.755 on Thursday before the announcement.

 

[SpinFire]

Thanks for sharing the article! Hopefully SingPost can find someone as capable to carry on the transformation.

 

[[[ForeverAlone]]]

SingPost still under my long term holding counter despite its price down.